VictoriaPlum.com Case Study
VictoriaPlum.com is a leading online bathroom and bedroom retailer. Founded in 2003 under the name Victoria Plumb, the company has witnessed year-on-year growth that saw it sell a major stake to the private equity firm TPG in 2014.
It subsequently rebranded as VictoriaPlum.com as it sought to define itself as a major online retailer with continued aggressive growth targets.
- VictoriaPlum.com were looking for a smarter way to manage and optimise their pricing.
- With over 5000 SKUs, VictoriaPlum.com were managing their pricing operation on an excel based tool.
- Pricing errors were common-place, with incorrect formula drags causing the wrong prices to be communicated to their website.
- There was a lack of audit history over who made what price change, why, and when.
- There was a lack of consistency with how similar products were priced causing customer confusion.
- The pricing team were finding it increasingly difficult to manage promotions and ensure compliance with trading standards.
- When there was a change in cost price or competitor equivalent price, it took a long time to register this change and make a suitable pricing update.
- More time was spent managing the pricing process than optimising it.
- BlackCurve helps VictoriaPlum.com fine-tune their pricing.
- In built error checking ensures the right price is always communicated.
- Competitor data is pulled directly into BlackCurve with the ability to setup notifications of changes within a set % variance or trigger automatic pricing updates.
- A large rule set is available to reap the rewards from advanced pricing. Notably, the elasticity rule identifies where prices can be increased without impacting volume.
- Complete transparency of pricing performance is available with in-built BlackCurve dashboards and reports.